Schlumberger NV (SLB) Given a $89.00 Price Target by Jefferies Group Analysts
Schlumberger NV (NYSE:SLB) has been assigned a $89.00 target price by analysts at Jefferies Group in a research report issued on Tuesday. The brokerage currently has a a “hold” rating on the stock. Jefferies Group’s target price suggests a potential upside of 9.35% from the stock’s current price.
SLB has been the subject of a number of other reports. BMO Capital Markets reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. Guggenheim reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, August 31st. Citigroup Inc. reaffirmed a “buy” rating and set a $89.00 price objective (down from $90.00) on shares of Schlumberger NV in a research note on Thursday, June 23rd. Simmons reaffirmed an “overweight” rating and set a $97.00 price objective (up from $84.00) on shares of Schlumberger NV in a research note on Monday, July 25th. Finally, Cowen and Company lifted their price objective on Schlumberger NV from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $90.72.
Schlumberger NV (NYSE:SLB) traded up 3.18% during midday trading on Tuesday, hitting $83.98. The stock had a trading volume of 6,763,865 shares. Schlumberger NV has a 52 week low of $59.60 and a 52 week high of $84.30. The firm’s market cap is $116.79 billion. The stock has a 50-day moving average of $78.67 and a 200-day moving average of $78.31.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Schlumberger NV had a positive return on equity of 6.88% and a negative net margin of 5.64%. The business earned $7.16 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Analysts forecast that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Friday, September 2nd. Schlumberger NV’s payout ratio is -168.07%.
In other news, insider Howard Guild sold 11,900 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $81.32, for a total value of $967,708.00. Following the completion of the transaction, the insider now directly owns 19,781 shares in the company, valued at approximately $1,608,590.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tore I. Sandvold sold 2,500 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $78.09, for a total value of $195,225.00. Following the completion of the transaction, the director now owns 17,750 shares of the company’s stock, valued at $1,386,097.50. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Carderock Capital Management Inc. boosted its position in shares of Schlumberger NV by 3.7% in the first quarter. Carderock Capital Management Inc. now owns 12,275 shares of the company’s stock worth $905,000 after buying an additional 440 shares during the last quarter. Hyman Charles D bought a new position in shares of Schlumberger NV during the first quarter valued at about $1,763,000. Middleton & Co Inc MA raised its position in shares of Schlumberger NV by 19.0% in the first quarter. Middleton & Co Inc MA now owns 81,831 shares of the company’s stock valued at $6,035,000 after buying an additional 13,070 shares in the last quarter. Addenda Capital Inc. raised its position in shares of Schlumberger NV by 0.3% in the first quarter. Addenda Capital Inc. now owns 71,891 shares of the company’s stock valued at $5,337,000 after buying an additional 215 shares in the last quarter. Finally, Exane Asset Management bought a new position in shares of Schlumberger NV during the first quarter valued at about $2,107,000. Institutional investors own 78.32% of the company’s stock.
Schlumberger NV Company Profile
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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